In the public choice (or new political economy) approach to development the emphasis is on
a. growth in the rural sector.
b. the self-interested behavior of public officials.
c. the dependence of LDCs on former colonial powers.
d. the inherent efficiency of developing country markets.
B
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The Sherman Act was patterned closely after the British Act against monopolies
Indicate whether the statement is true or false
Briefly explain the difference in the demand curves of monopolies and perfectly competitive firms.
What will be an ideal response?
On the "supply side" of a market, producers indicate to consumers what they are willing to sell, in what quantity and at what price.
Answer the following statement true (T) or false (F)
If inflation turns out to be higher than was anticipated, debtors are helped because
A) the real present value of their payments increases. B) the real present value of their payments decreases. C) the nominal present value of their payments increases. D) the nominal present value of their payments decreases.